RWQ Financial Management Services Inc. Buys 21,804 Shares of JPMorgan Chase & Co. (NYSE:JPM)

RWQ Financial Management Services Inc. boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 34.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,417 shares of the financial services provider’s stock after buying an additional 21,804 shares during the period. JPMorgan Chase & Co. makes up approximately 6.2% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 9th biggest position. RWQ Financial Management Services Inc.’s holdings in JPMorgan Chase & Co. were worth $18,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC increased its position in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $37,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JPM shares. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Daiwa Capital Markets cut their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $223.38.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $247.06 on Thursday. The firm’s 50 day moving average is $216.71 and its 200 day moving average is $207.71. The stock has a market capitalization of $695.56 billion, a P/E ratio of 13.75, a PEG ratio of 3.25 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $142.82 and a 12 month high of $248.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.